Since joining the team in 2006, the 65-year-old has designed championship-winning cars for the likes of Sebastian Vettel and Max Verstappen, as he cemented his status as the sport's greatest-ever designer.
Speculation over where his future may lie has rumbled on since the announcement of his impending departure, with the Brit being linked to a host of F1 teams.
The team are also celebrating their 20th anniversary in F1 at the iconic motorsport event, and have a number of current and former stars participating to mark the occasion.
On Saturday, Newey stepped into the cockpit of the legendary Ferrari 312T, as he paid tribute to his old friend Niki Lauda who won two of his three world titles at the Scuderia.
As part of this weekend's celebrations in West Sussex, Newey got behind the wheel for a run up the hill, admitting it was 'really special' to have the opportunity to experience driving a car he revered from his teenage years.
"It's lovely," he said, speaking to Sky Sports F1. "To be driving Niki's old car, his championship-winning car, is so special, it really is.
"I knew Niki quite well, so to be in here, sitting in the same seat and trying to think what he must have been experiencing and how he prepared himself before the starts and everything, it's really special.
"It's absolutely amazing and a very fitting tribute to him.
"The cars are so different, but I love these cars. [At 15] I did a painting of this car for my art project.
When asked if there's anything to be learned from getting behind the wheel of a vehicle from the 70s, he smiled and responded: "Not really, just enjoy it."